Ichimoku Cloud Analysis 09.08.2018 (AUDUSD, NZDUSD, USDCAD)

AUDUSD is trading at 0.7433; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7415 and then resume moving upwards to reach 0.7505. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7375. In this case, the pair may continue falling towards 0.7335. After breaking the upside border of the Triangle pattern and fixing above 0.7460, the price may continue moving upwards.

NZDUSD is trading at 0.6656; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6705 and then continue moving downwards to reach 0.6590. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6785. In this case, the pair may continue growing towards 0.6850.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3006; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 1.3015 and then continue moving downwards to reach 1.2900. Another signal to confirm further descending movement is the price’s rebounding from the resistance. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.3080. In this case, the pair may continue growing towards 1.3185.

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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